Growth regimes in central and peripheral countries: an econometric analysis, 1980-2018

Abstract

We explore structural differences in growth patterns and income distribution between
central and peripheral countries. We provide dimensions that account for the structural
limitations that dependent positions have in the peripheries and semi-peripheries. We conducted
an analysis through different estimates of panel data models for 35 central and peripheral
countries for the period 1980-2018. In particular, in addition to making the usual estimates of
the components of aggregate demand, we include three variables that we consider representative
of the dynamics that capital accumulation takes in the periphery: participation in global
value chains, levels of foreignization of economies and labor productivity differentials.

JEL Classification: F43; E25; C33.